Romania’s Competition Council issued a RON 1.6 million (EUR 0.34 mln) fine against local firm Corsar Online, the operator of cel.ro online shop, for having operated three other online shops (www.marketonline.ro, www.mediadot.ro and www.azerty.ro) before receiving formal approval for their takeover.

Corsar Online has displayed on products and operated the sales related to the said internet domains, previously operated by other companies, the competition body explained.

Corsar Online requested the Competition Council’s approval nearly three years ago, Ziarul Financiar daily disclosed. In fact, the newspaper announced in August 2016 that the takeover was completed technically.

"According to the relevant legislation, any economic concentration (done by merger, acquisition, takeover), where the cumulated turnover of the companies involved exceeds EUR 10 million and at least two of the companies involved have reported in Romania turnovers higher than EUR 4 million, must be notified to the competition authority before being implemented,” the Competition Council’s press release announced.

Romania’s Competition Council issued a RON 1.6 million (EUR 0.34 mln) fine against local firm Corsar Online, the operator of cel.ro online shop, for having operated three other online shops (www.marketonline.ro, www.mediadot.ro and www.azerty.ro) before receiving formal approval for their takeover.

Corsar Online has displayed on products and operated the sales related to the said internet domains, previously operated by other companies, the competition body explained.

Corsar Online requested the Competition Council’s approval nearly three years ago, Ziarul Financiar daily disclosed. In fact, the newspaper announced in August 2016 that the takeover was completed technically.

"According to the relevant legislation, any economic concentration (done by merger, acquisition, takeover), where the cumulated turnover of the companies involved exceeds EUR 10 million and at least two of the companies involved have reported in Romania turnovers higher than EUR 4 million, must be notified to the competition authority before being implemented,” the Competition Council’s press release announced.

Romania’s Competition Council issued a RON 1.6 million (EUR 0.34 mln) fine against local firm Corsar Online, the operator of cel.ro online shop, for having operated three other online shops (www.marketonline.ro, www.mediadot.ro and www.azerty.ro) before receiving formal approval for their takeover.

Corsar Online has displayed on products and operated the sales related to the said internet domains, previously operated by other companies, the competition body explained.

Corsar Online requested the Competition Council’s approval nearly three years ago, Ziarul Financiar daily disclosed. In fact, the newspaper announced in August 2016 that the takeover was completed technically.

"According to the relevant legislation, any economic concentration (done by merger, acquisition, takeover), where the cumulated turnover of the companies involved exceeds EUR 10 million and at least two of the companies involved have reported in Romania turnovers higher than EUR 4 million, must be notified to the competition authority before being implemented,” the Competition Council’s press release announced.